Big numbers are weird. We hear "billions" and our brains kinda just shut off. But when you look at the largest US companies by revenue, you aren't just looking at bank accounts. You’re looking at the actual plumbing of American life. It’s the gas in your tank, the pills in your cabinet, and that brown box sitting on your porch. Honestly, the scale is hard to wrap your head around.
The 2025 Fortune 500 rankings recently dropped, and they tell a story of a corporate world that is getting top-heavy. Really top-heavy. We're talking about a collective $19.9 trillion in revenue for the whole list. That’s roughly two-thirds of the entire US GDP.
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The Top 10: The Heavy Hitters
If you want to know who is winning, you look at the top ten. For the 13th year in a row, Walmart took the crown. It’s almost boring at this point, but their revenue is anything but.
- Walmart: $681 billion.
- Amazon: $638 billion.
- UnitedHealth Group: $400 billion.
- Apple: $391 billion.
- CVS Health: $373 billion.
- Berkshire Hathaway: $371 billion.
- Alphabet (Google): $350 billion.
- Exxon Mobil: $350 billion. (Alphabet barely beat them by a hair).
- McKesson: $309 billion.
- Cencora: $294 billion.
See a pattern? It's basically retail, tech, and healthcare. That’s it. Those are the three pillars holding up the roof.
Walmart vs. Amazon: The Narrowing Gap
There was a time when Walmart felt untouchable. Not anymore. The gap between them and Amazon has shrunk to about $43 billion. That sounds like a lot, but in this league, it’s a rounding error. Amazon grew at 11%, while Walmart grew at 5%. You don't have to be a math genius to see where this is going.
But here is the thing: Amazon makes way more profit. Like, three times more. While Walmart is grinding out thin margins on groceries, Amazon has AWS (Amazon Web Services). Cloud computing is where the real money lives.
Why the Largest US Companies by Revenue Aren't Always the Most "Valuable"
People often confuse revenue with market cap. They aren't the same. Revenue is the "top line"—it's every dollar that comes through the door before you pay a single employee or rent check. Market cap is what the stock market thinks the company is worth.
Take Nvidia.
In the revenue rankings, Nvidia is way down at No. 31. They brought in about $130 billion. But because of the AI gold rush, their market cap is astronomical, often rivaling or beating Apple.
Investors don't care about how much you sold yesterday; they care about what you're going to sell tomorrow. Revenue is history. Market cap is a bet on the future.
The Healthcare Ghost in the Machine
Most people don't realize how much of the US economy is just shuffling medical bills around. Look at the top ten again. UnitedHealth, CVS Health, McKesson, Cencora. That is 40% of the top ten!
UnitedHealth Group alone crossed $400 billion in revenue. They are the first healthcare company to ever hit that milestone. It’s a massive, complex web of insurance (UnitedHealthcare) and pharmacy/data services (Optum). When you pay your premium, it’s a drop in a very large, $400-billion bucket.
The Rising Stars and the Falling Giants
Not everyone is having a party. Energy companies like Phillips 66 and Marathon Petroleum actually saw their revenues dip a bit recently. Oil is volatile. It’s the nature of the beast.
On the flip side, Meta Platforms (Facebook/Instagram) is climbing fast. They jumped up to No. 22. Why? Because advertising is back with a vengeance, and they've leaned hard into AI to make those ads more "clickable."
And then there's Nvidia. You can't talk about growth without them. Their revenue shot up over 114% in a single year. That kind of growth for a company that size is basically unheard of. It’s like watching a blue whale suddenly start sprinting like a cheetah.
Where is the money going?
Texas and California are still the big playgrounds. California has 58 of these giants. Texas has 54.
Texas is winning the "move-in" game because of the tax climate. But California still holds the crown because of the sheer density of Silicon Valley. It’s a battle between the old guard and the new tech frontier.
What This Means for Your Wallet
So, why should you care about the largest US companies by revenue?
Because these companies dictate the price of your life. When Walmart and Amazon fight for market share, your toilet paper gets cheaper. When UnitedHealth grows, your healthcare options change.
If you're an investor, these are the "safe" bets—the blue chips. They have the "moat" that Warren Buffett always talks about. It's hard to kill a $600 billion giant.
Actionable Insights for 2026
- Watch the Margins: Don't just look at the $681 billion. Look at the profit. High-revenue companies with low profits (like retail) are more vulnerable to inflation and supply chain shocks.
- The AI Pivot: Keep an eye on the "Magnificent Seven." These tech giants are spending $300+ billion on AI infrastructure right now. If that doesn't turn into revenue soon, we might see some ranking shifts.
- Healthcare is Sticky: If you want stability, the healthcare sector (UnitedHealth, CVS, Cigna) remains the most consistent revenue generator in the American economy, regardless of who is in the White House.
The landscape is shifting. Retail is becoming tech. Energy is becoming "renewables." But for now, the king still wears a blue vest and works in Bentonville, Arkansas.